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Property Taxes-Terms to Know

An Austin Hillside Home July 2022

Summary based on article Austin officials are deciding what property tax bills wil look like. Here are some terms to know"upublished in the Austin Monitor, Thursday August 18, 2022 by Audrey McClinchy, KUT

Refer to for official information regarding property taxes including available exemptions for eligible homeowners.

Summary by 2244

Appraised Value

Issued by the Travis County Central Appraisal District (TCAD). The appraised value is "how much your home would have sold for on the market if it sold on Jan 1, 2022."

Homestead Exemption

Eligible homeowners with a Homestead Exemption (HE) will receive a break on their taxes by having withheld "20 percent of their taxable value from [property] taxes." See TCAD at for more detail regarding exemptions. Other exemptions include but are not limited to those for; Person Age 65 or older, Disabled Person, Disabled Veteran.

Assessed Value

This is the appraised value "when you bought the home... plus 10 percent each year."

Taxable Value

This the "value you're taxed on" which is the lower of the two values-appraised value and assessed value"

Tax Rate

Cities, counties, health districts, utility districts, school districts and other entities assign a rate that is applied to the Taxable Value each year. As an example AISD will tax "the coming fiscal year at $0.9966 per $100 valuation" or 0.9966%. So if your Taxable Value is $200,000 then your property tax is $200,000/$100*0.9966=$1993.20


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